Brazilian integrated steelmaker Usiminas is planning a price adjustment for hot-dip galvanized products and heavy plate for the distribution segment, CEO Sergio Leite said during a conference call for the company's Q2 financial results Friday.
"For HDG, we are implementing a 10.4% adjustment from August 10. For heavy plate, 5.6% from August 20," said Leite.
These hikes follow a 10.7% price increase in hot-rolled steel sheet effective on July 21, according to the CEO.
"The scenario is of price increases due to price hikes in international markets, especially China, and also an increase in the exchange rate [devaluation of the Brazilian real against the US dollar]," he added.
Leite said the changes would put prices for Usiminas' products at a sustainable premium to prices for international products of around 10%.
"We are not making any move in prices for cold-rolled products because the differential is already in this level [10%]," he added.
